Apple: iPhone 5 pre-orders topped 2M in 24 hours

Apple touched the $700 per share mark today, quite the milestone for the most valuable company in the US by market cap.

If new iPhone sales are any indication for Apple adding onto it's nearly $658B value it will continue to get bigger rather than smaller.  At a forward price/earnings ratio of 13, the stock unbelievably still looks like a good value.

Sales are projected to be in the range of 6 million to 10 million iPhone 5s in the first week. That compares to sales of 4 million of the iPhone 4S on its first weekend last October.

Review this USA Today article for more specifics on the iPhone sales

• Apple on Monday said iPhone 5 preorders topped 2 million in 24 hours -- more than double the amount of preorders it had for the iPhone 4S.
• Phones ordered online won't be delivered until Oct. 5 at the earliest, according to Apple's website. And analysts say phones available at retail, starting at 8 a.m. Friday, will probably be sold out by Sunday.